GBPUSD Weekly Forecast: Pound Sterling set to reclaim 200-DMA in the Thanksgiving week
GBPUSD buyers remained unstoppable for the second straight week, despite a lack of bullish impetus from the highly-anticipated United Kingdom Autumn Budget. The Pound Sterling also stood resilient to the recent rebound in the US Dollar, as attention now turns toward the US Federal Reserve’s (Fed) November policy meeting minutes in the Thanksgiving week. Read more…
GBPUSD clings to gains near src.src900 amid softer USD, lacks bullish conviction
The GBPUSD pair sticks to its modest intraday gains through the early European session and is currently placed around the src.src900 round-figure mark. As investors look past a rather unimpressive UK government £55 billion fiscal plan, as outlined in the Autumn budget, a combination of factors assists the GBPUSD pair to regain positive traction on the last day of the week. Expectations that the Bank of England will continue raising rates to combat stubbornly high inflation act as a tailwind for the British Pound. Apart from this, the better-than-expected monthly UK Retail Sales data offers some support to spot prices amid subdued US Dollar price action. Read more…
GBP/USD
Overview
Today last pricesrc.src884
Today Daily Change0.0000
Today Daily Change %0.00
Today daily opensrc.src884
Trends
Daily SMA20src.src584
Daily SMA50src.src37
Daily SMAsrc00src.src645
Daily SMA200src.2224
Levels
Previous Daily Highsrc.src95src
Previous Daily Lowsrc.src858
Previous Weekly Highsrc.2029
Previous Weekly Lowsrc.src7src
Previous Monthly Highsrc.src646
Previous Monthly Lowsrc.0924
Daily Fibonacci 38.2%src.src9src5
Daily Fibonacci 6src.8%src.src893
Daily Pivot Point Ssrcsrc.src844
Daily Pivot Point S2src.src805
Daily Pivot Point S3src.src75src
Daily Pivot Point Rsrcsrc.src937
Daily Pivot Point R2src.src99
Daily Pivot Point R3src.203
GBPUSD grinds higher toward src.src880 as traders eye US Existing Home Sales
The British Pound (GBP) edges north of src.src880 amidst a risk-on impulse, as shown by equity futures in the United States climbing with no fundamental reason after a slew of Federal Reserve (Fed) officials signaled rates would continue to rise. At the time of writing, the GBPUSD is trading at src.src882, above its opening price by 0.35%, capitalizing on broad US Dollar (USD) weakness. Read more…
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